Remarkable Retail What We Get Wrong About E-Commerce
This week we dig into some of the myths, misleading clickbait headlines, and often unfortunate misunderstandings surrounding the growth of online shopping, both across the last two decades and accelerated more recently by the COVID-19 crisis. In particular, we dig into:
- The evolution of modern retail from a relatively simple world where brick & mortar and e-commerce were largely distinct activities with dedicated supply chains, to a much more complex, blended and hybrid one.
- How stores have, rather ironically, become increasingly important in driving e-commerce success and often essential in the fulfillment of online orders.
- Some of the endemic profitability challenges for many aspects of online shopping, including the grocery sector and for many digitally native vertical brands
- Why the idea that COVID accelerated e-commerce growth by 10 years ins't close to being right.
- How the assumption that growth in online sales comes at the expense of physical retail is often very wrong.
- And why profitable online shopping growth is about to become much more challenging.
We also take on the nonsense around Saks (and others) splitting up and spinning out it's online business.
But first we open up the episode with the Top 3 retail stories that caught our attention this past week, including unpacking Amazon's very lackluster earnings report and online sales deceleration, yet another new CEO at JC Penney (possibly the worst job in retail), and what Rent the Runway's disappointing IPO might portend for the frothy valuations digitally native retail brands are commanding.
We also have a quick chat with David Macadam, CEO of the Middle East Council of Shopping Centres and Retailers about the upcoming MENA Retail Congress in Dubai which will feature an opening keynote from Steve.
Steve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.
Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global E-Commerce Tech Talks and The Food Professor with Dr. Sylvain Charlebois. You can learn more about Michael here or on LinkedIn.
About Us
Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling authro of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.
Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur. He has been on the front lines of retail industry change for his entire career.
Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada’s Retail Marketing conference with leaders from Walmart & Google. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.
Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.
Rethink Retail has recognized Michael as one of the top global retail experts for the fourth year in a row, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer. If you are a BBQ fan, you can tune into Michael’s cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.
Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.